(Bloomberg) -- The pound rose against the dollar on speculation the U.K.'s interest rate premium over other countries will widen as accelerating inflation forces the Bank of England to increase borrowing costs further.
The pound rose yesterday, snapping a three-day losing streak that followed a rally to a 25-year high last week, after central bank policy makers said they were concerned by price pressures and BOE Governor Mervyn King said he is ``determined'' to bring inflation down to target. Interest rate futures show investors are betting on two more rate rises this year from 5.25 percent currently.
Read more at Bloomberg Currencies News
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